Colorado Is Reaching Out To Payback Citizens
Unclaimed money is still on the rise and most U.S. States are making it a priority to return th money to its citizens. Colorado, the central state of America, is reaching out to payback its citizens through various methods.
In its efforts to return the unclaimed cash to the Coloradans, State Treasurer Cary Kennedy kicked off the 2010 Great Colorado Payback on April 16, 2010. She happily announced through a press release that the Great Colorado Payback recently paid claims totaling more than $500,000 to a Fort Collins resident. It was one of the twenty claims made during the past fiscal year, which ranged between $40,000 and $1 million.
Colorado had eight claims this year that were worth more than $100,000.
The larger claims were for the forgotten stocks, trusts, and payments to heirs. However, an average claim In Colorado is over $100. Many such smaller amounts have contributed to the mammoth pile of unclaimed property in Colorado and other U.S. states.
Like other states, Colorado state government and the state treasurer office are taking aggressive steps to return the unclaimed cash to the owners. The Great Colorado Payback is a brilliant effort in this regard and has resulted in returning over $25,000,000 to the claimants this fiscal year.
Encouraging Results of the Great Colorado Payback
Colorado’s efforts in reaching out to the people had been successful. As per a press release, the Great Colorado Payback has recorded an increase of 41% in returning forgotten property, in comparison to the fiscal year before. In the Fiscal Year 2008-2009, the Great Colorado Payback returned a record $25.5 million to the claimants.
The Colorado State Treasurer currently maintains a list of over 500,000 names of individuals as well as businesses on whose name any unclaimed property is available. The payback program currently holds more than $500 million belonging to the owners who had forgotten about the property in their name.
Forgetfulness, negligence and improper planning by the citizens has resulted in unclaimed royalties, un-cashed insurance checks, unclosed savings accounts, unredeemed dividends, money orders, payroll wages, security deposits, etc that has accumulated over the years as unclaimed property.
Colorado Government Eager to Help
Citizens can contact the Great Colorado Payback Office during 8am – 5pm from Monday to Friday, or call the numbers 303-866-6070 or 800-825-2111. Coloradans can check the program’s website or visit www.cashunclaimed.com for searching one of the largest databases of unclaimed property.
When making a telephone inquiry, citizens will have to provide the name they would like to research. If the name is found to have unclaimed property on the website or on another list provided by the office, the owner will have to submit the claim for the same. Citizens will have to provide previous mailing addresses for better tracing of the unclaimed cash.
The callers will have to provide the last four digits of the social security number for the individual he or she is inquiring about. Further, provide the complete mailing address including City, State and Zip code for the person who will claim the proceeds.
In order to reach out the maximum number of people and return the property in their name, Great Colorado Payback Office will respond whether or not there is a match for the name. Coloradans are requested to cooperate with the government in this regard.